Sanofi-Aventis to Cut 1,700 US Jobs
October 11, 2010
The BBC reports, French pharmaceutical giant Sanofi-Aventis has announced it will shed 1,700 jobs from its U.S. workforce. The move is part of a restructuring process that will allow the company to focus on drugs for diabetes, cancer and heart problems, it said. The cuts represent 13% of the firm''s total workforce of 13,000 in the US. The group is in the middle of an $18.5 billion hostile takeover bid for U.S. biotech company Genzyme. Sanofi said the cuts were not related to the bid.